Hong Kong Stablecoin Licensing Attracts 36 Applicants Ahead of 2026 Rollout
Hong Kong's financial regulators have received 36 applications for stablecoin licenses ahead of the September 2025 deadline, signaling robust institutional interest in the city's emerging digital asset framework. The Stablecoin Ordinance, enacted in August, mandates regulatory approval for all issuers before public offerings can commence.
Financial Services and Treasury Secretary Christopher Hui indicated initial approvals may come by early 2026, with regulators adopting a measured approach similar to Hong Kong's VIRTUAL asset trading platform licensing strategy. Reserve adequacy, price stability mechanisms, and anti-money laundering controls emerge as critical evaluation criteria for applicants.
The licensing process reflects Hong Kong's deliberate approach to digital asset regulation, balancing market development with robust oversight. A parallel custody framework for virtual assets is slated for introduction in 2026, further solidifying the jurisdiction's comprehensive regulatory infrastructure.